In order to provide for myself and my husband, I work in retail. I have a retail outlet at the local market where I sell children's clothing. I get along well i…
Sales
Tajikistan
Loan amount €820
Funded 100%
by 13 members
Funding disbursed to MFI, repayments ongoing
Disbursement date: 01/01/2021
Final repayment of the loan: 07/01/2022
| MicroWorld's investors have funded: | €820 |
Oftobkhon - Purchase garments
Borrower
First name:
Oftobkhon
Gender:
Female
Age:
23
Marital status:
Married
Number of children:
1
Region:
Istaravshan
Loan Request
Purpose:
Purchase garments
Amount:
€820
Duration:
18 months
Loan type:
in fine
The loan is reimbursed in one installment at the maturity date of the project (principal and possible interests).
Note: additional time may be necessary for the funds to be credited on the lenders' accounts due to delays in international transfers.
Borrower's quote
In order to provide for myself and my husband, I work in retail. I have a retail outlet at the local market where I sell children's clothing. I get along well in this business, since I have been doing it for three years already. In order to increase my working capital, I need to bring in new seasonal merchandise. I am looking for a loan with this goal in mind. I want to buy a collection of seasonal children's clothing for resale. I am hoping very much for your support.
Economic and social context
Tajikistan
Considered to be the poorest region of the former Soviet Union, the development of Tajikistan relies heavily on loans via microfinance, particularly in the rural areas of the nation.
| Population | 6 952 223 |
| GNI per capita | 700 USD |
| Economic Growth | 3.4% |
| Poverty rate | 47% |
| Unemployment rate | No data |
| Literacy rate (above 15 years of age) | 100% |
| Life expectancy | 67 years |
MFI Status
- Time on MicroWorld: 621 months
Rates and transparency
- This loan does not pay any interest to the lender.
- Following your loan commitment, you have 7 calendar days to assert your right of withdrawal, by mail at contact@microworld.org.
- The MFI will reimburse the lender in case of default of the entrepreneur but there is no guarantee or insurance given by the MFI.
- 100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.
- The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.
- The beneficiaries have been well informed about the risks of over-indebtedness and the consequences of payment default.
- The platform earns a commission from the MFI for the service it provides, which helps to fund its running costs.
- More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.
The MFI
